Solved Queries
Ques: I am seeking clarification regarding a notice received by one of our clients to pay late fees as per Section 47 of the GST Act for the delayed filing of GSTR-1 from July 2020
Ans: The courts are reluctant to give any relief for late fee and as such no judgement is there except for very rare exceptions reasons.
Ques: How it so happened that in this budget 2025 presented except Customs duties, there is no mention of gat tax span rates. Etc.? Why?
Ans: They will soon be notified separately
Ques: With reference to my earlier query, Whether the Input of GST paid (RCM) on Long Term Lease Premium is available?
Whether the above premium is covered in Section 17(5) Blocked Credit
Ans: Generally, ITC is available on GST paid under RCM for services used in business. However, its availability on long-term lease premiums depends on the nature of the lease and its purpose.
Caution: The above opinion is framed based on the limited information available and merely a personal opinion. We will not be responsible for any damage or loss in whatever manner consequent to any action taken on the basis of any content of this opinion. We suggest you take a detailed opinion for better clarity based on extensive information and research thereof.
